Baxter announces share buyback scheme and dividend increase
26 July 2012 11:43 in Pharmaceutical Company Financials
Baxter has announced a series of new financial measures designed to improve the value it provides to its shareholders.
The company has declared a quarterly dividend of $0.45 (29p) per common share, payable on October 1st 2012, which represents an increase of more than 34 percent that brings its annual dividend rate to $1.80 per share.
In addition, the firm is launching a $2 billion share repurchase programme, with shares to be bought back on the open market at times and amounts based on Baxter's evaluation of market conditions.
Over the last five years, Baxter has returned more than $11.4 billion cumulatively to shareholders through dividends and share repurchases.
Robert Hombach, chief financial officer for Baxter, said: "With our strong balance sheet and sustained ability to generate significant cash flow, our company continues to have flexibility to invest in opportunities that will enhance long-term growth and create value for our shareholders."
The company announced earlier this month that it generated $3.6 billion in global sales during Q2 2012, up by one percent year on year.
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